The list of qualities (an investor should have) include patience, self-reliance, common sense, a tolerance for pain, open-mindedness, detachment, persistence, humility, flexibility, a willingness to do independent research, an equal willingness to admit mistakes, and the ability to ignore general panic.

Owning stocks is like having children - don't get involved with more than you can handle.

There is always something to worry about. Avoid weekend thinking and ignoring the latest dire predictions of the newscasters. Sell a stock because the company's fundamentals deteriorate, not because the sky is falling.

The extravagance of any corporate office is directly proportional to management's reluctance to reward the shareholders.

Suicide is a permanent solution to a temporary problem. Suicide is a choice and I think if we work with that with kids, we'll get somewhere.

My high-tech aversion caused me to make fun of the typical biotech enterprise: $100 million in cash from selling shares, one hundred Ph.D.'s, 99 microscopes, and zero revenues.

The basic story remains simple and never-ending. Stocks aren't lottery tickets. There's a company attached to every share.